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Shares of Gap Inc/The Fall Below Previous 52-Week Low

By Nick Russo

Shares of Gap Inc/The (NYSE:GPS) traded today at $17.08, breaking its 52-week low. Approximately 2.1 million shares have changed hands today, as compared to an average 30-day volume of 5.5 million shares.

Gap Inc/The (NYSE:GPS) has potential upside of 100.9% based on a current price of $17.08 and analysts' consensus price target of $34.31. The stock should run into initial resistance at its 50-day moving average (MA) of $18.31 and subsequent resistance at its 200-day MA of $23.71.

In the past 52 weeks, shares of Gap Inc/The have traded between the current low of $17.08 and a high of $32.98 and are now at $17.08. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 0.5%.

The Gap, Inc. operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, and Intermix brands.

SmarTrend recommended that its subscribers protect gains by selling shares of Gap Inc/The on May 13th, 2019 by issuing a Downtrend alert when the shares were trading at $23.30. Since that call, shares of Gap Inc/The have fallen 22.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows gap inc/the

Ticker(s): GPS